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Panel mulls making IPFW an independent university

State Sen. Dennis Kruse says Purdue's leaders concentrate on the West Lafayette campus and treat IPFW as an afterthought. He said the independent school might be called Fort Wayne University.

Construction

-Gibson Commercial Construction has been awarded the contract to build a 3,400-square-foot DiBella’s Old Fashioned Submarines restaurant at The Shoppes at River’s Edge, 4335 E. 82nd St.

-Capitol Construction has completed a 19,400-square-foot office build-out for Orbit Medical at 6365 Castleplace Drive.

-Capitol Construction has completed a 4,000-square-foot office build-out for Briljent at 6435 Castleway West Drive.

Residential

The average rate for 30-year mortgages rose from 3.81 percent to 3.86 percent in the week ended Aug. 15, according to Bankrate.com. The rate for 15-year mortgages rose from 3 percent to 3.05 percent.

Leases/leasing contracts

-Burlington Coat Factory leased 70,000 square feet at a former WalMart store at 2575 E. Main St., Plainfield. The tenant was represented by Brad Gershman of Gershman Brown Crowley. The landlord, Tabani Group, was represented by Tom English and Larry Davis of Sitehawk Retail Real Estate.

-ExactTarget leased an additional 22,064 square feet in the Century Building, 36 S. Pennsylvania St. The tenant was represented by Jenna Barnett of Newmark Knight Frank Halakar Real Estate. The landlord, Blue Real Estate, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.

-Respiratory Partners renewed its lease and expanded to 7,200 square feet of office/warehouse space in Directors Row, 2461-E Directors Row. The landlord, American National Insurance Co., was represented by Don Wahle of Harshman Property Services LLC. The tenant represented itself.

-Imani Community Church leased 6,309 square feet of retail space at Lafayette Place, 3754 Commercial Drive. The tenant was represented by Jacqueline Haynes of Cassidy Turley. The landlord, Sandor Development, was represented by Drew Kelly of Sandor.

-AWS Holdings renewed its lease and expanded to 6,055 square feet of office space in Directors Row, 2431-A Directors Row. The landlord, American National Insurance Co., was represented by Don Wahle of Harshman Property Services LLC. The tenant represented itself.
 
-ARGI Financial Group leased 3,719 square feet at Castle Creek V, 5750 Castle Creek Parkway. The tenant was represented by Rob Bussell of The Bussell Group. The landlord, ORIX USA Capital Markets, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group.

-Unified Investigations and Sciences Inc. leased 3,300 square feet of industrial space at 7738 Moller Road. The tenant was represented by Glenn Davis of Colliers International.  The landlord, Duke Realty LLC, was represented by Jay Archer of Duke Realty.

-Prime Way Institute LLC leased 2,117 square feet of office space in the Meridian Professional Building, 3266 N. Meridian St. The landlord, PBB III LLC, was represented by Larry W. Harshman of Harshman Property Services LLC. The tenant represented itself.

-Rocket Fizz leased 2,036 square feet at 55 Monument Circle. The tenant was represented by Aaron Boyle of Midland Atlantic.  The landlord, Winthrop Management LP, was represented by Matt Langfeldt and Rich Forslund of Summit Realty Group and Ryan Hurst of Urban Space Commercial Properties.

-BroadBand Interactive Inc. leased 1,895 square feet of warehouse space at Roosevelt Business Park, 2512 Roosevelt Ave. The landlord, Gilliatte Family Realty LLC, was represented by Larry W. Harshman of Harshman Property Services LLC. The tenant represented itself.

-Polizzi Real Estate leased 1,590 square feet of office space at Auburn Woods Plaza, 9640 Commerce Drive, No. 413, Carmel. The tenant was represented by John Levinsohn of Levi Realty Investments. The landlord, Sandor Development, was represented by George Crawford of NAI Meridian.

-Mucci’s Jewelry leased 1,406 square feet of retail space at Cherry Tree Plaza, 9725 E. Washington St. The landlord, Sandor Development, was represented by Jeff Roberts of Sandor. The tenant represented itself.

-VIP Beauty Salon leased 1,110 square feet of retail space at 7011 N. Michigan Road. The landlord, Sandor Development, was represented by Drew Kelly of Sandor. The tenant represented itself.

-Prism Medical Products leased 1,050 square feet of office space in Directors Row, 2415-J Directors Row. The tenant was represented by Chris Black of CBRE. The landlord, American National Insurance Co., was represented by Don Wahle of Harshman Property Services LLC.

-C&C Midwest Firearms leased 991 square feet of retail space in Clermont Shoppes, 9235 Crawfordsville Road. The landlord, Clermont Shoppes LLC, was represented by Larry W. Harshman of Harshman Property Services LLC. The tenant represented itself.

Sales/acquisitions

-Meadow Drive Apartments LLC bought the 12-unit Meadow Drive Apartments at 268 Meadow Drive, Greenwood. The seller, Sweet Air Investments Inc., was represented by Scott Pollom of Cassidy Turley. The buyer represented itself.  

-Ritter Manor Apts LLC bought the 42-unit Ritter Manor Apartments at 2302 Ritter Ave. The seller, Bayview Loan Servicing LLC, was represented by Scott Pollom of Cassidy Turley. The buyer represented itself.

-Willow Brook Apartments LLC bought the 51-unit Willow Brook Apartments at 2111 E. 52nd St. The buyer was represented by Scott Pollom of Cassidy Turley. The sellers, John T. and Rose A. McEvoy, were represented by Duke Hardy of Tikijian Associates.

-Indiana Hemophilia & Thrombosis Center Inc. bought 1.9 acres of land at 8326 Naab Road. The buyer was represented by David Mennel of Jones Lang LaSalle. The seller, Panattoni Development, was represented by Brooke Augustin of Alliance Commercial Group.

Correction

Brendanwood Financial leased 3,485 square feet of office space at Auburn Woods Park, 9650 Commerce Drive, No. 523, Carmel. The tenant was represented by Jeff Hubley of Midland Atlantic. The landlord, Sandor Development, was represented by George Crawford of NAI Meridian. The broker roles were reversed in the July 31 Real Estate Weekly.

Historic Market Street building gets new owner

The Corydon Group bought 125 W. Market St. Aug. 2 and will occupy the 4,200-square-foot top floor of the three-story building after renovations are finished in early November.

Indiana public schools wage unusual ad campaign

Struggling Indiana public school districts are buying billboard space, airing radio ads and even sending principals door-to-door in an unusual marketing campaign aimed at persuading parents not to move their children to private schools as the nation's largest voucher program doubles in size.

People

Dr. Stacy Williams has joined the medical staff at Danville Pediatrics, which is part of the Danville-based Hendricks Regional Health hospital system. Williams earned her medical degree at the Indiana University School of Medicine.

Dr. Tony GiaQuinta has joined Hendricks Regional Health’s group of pediatric hospitalists. GiaQuinta is a graduate of Wabash College and the Indiana University School of Medicine.

Dr. Samir Ginde has joined the adult hospitalist group at Hendricks Regional Health. Ginde holds a bachelor's degree in biology from Tufts University, a master’s degree in nutrition from Columbia University, and a medical degree from the Ross University School of Medicine.

The Community Physician Network, which is part of Indianapolis hospital system Community Health Network, added 14 orthopedic surgeons by acquiring two practices: the Sports Medicine Institute of Indiana and the Indiana Orthopedic Center. Community now has 19 orthopedic surgeons. The new surgeons are:  Dr. Louis Angelicchio, Dr. Herbert Biel, Dr.  Andrew Combs, Dr. Melton Doxey, Dr. Richard Eaton, Dr. Gregory Estes, Dr. Brett Fink, Dr. Ralph Kahn, Dr. Douglas Kuhn, Dr. Eric Leaming, Dr. Philip Sailer, Dr. Jon Sieber, Dr. Edward Todderud and Dr. Frank Wilson.

Company news

North Carolina-based Quintiles, a contract researcher for drug companies, will lease 12,000 square feet in the Pan Am building for the next five years in a move to get closer to Eli Lilly and Co., one of its major clients. The office, which initially will employ 50 people, is a collaborative project of the two companies, Quintiles spokesman Phil Bridges told the Triangle Business Journal. “The goal of the collaboration has been to develop an integrated approach to optimizing how [human drug] trials are conducted, eliminate costly inefficiencies and use ‘big data’ to drive better drug development decisions,” Bridges said. The office could employ as many as 65 by the end of the year.

Here’s one way to win over skeptical locals in your hometown market: spend $1 million. Indianapolis-based hospital system Indiana University Health, which took that name last year after being called Clarian, will give $1 million to Purdue University to help build a facility that will, in part, house a satellite campus of the IU School of Medicine. IU Health was formed in 1996 by a partnership between the IU medical school and Indianapolis’ Methodist Hospital. IU Health operates one of its hospitals, IU Health Arnett, in the back yard of Purdue’s main campus in West Lafayette. When they made the name change, IU Health executives acknowledged it might present challenges in Lafayette, but they said market research showed the name still was preferred to the vanilla Clarian.

The recent sale of a California-based medical device company sent some money back to Indiana. MindFrame Inc. was acquired for $75 million by Massachusetts-based Covidien Inc. That produced an undisclosed return for Indianapolis-based CHV Capital, the venture capital arm of the Indiana University Health hospital system as well as SV Life Sciences, a Boston-based venture capital firm that has received funds from the $58 million INext Fund raised by Indianapolis-based life sciences development group BioCrossroads. MindFrame develops devices for minimally invasive removal of blood clots from stroke patients. In addition to the cash from Indiana, the company also received technical help from students at Rose-Hulman Institute of Technology in Terre Haute and some consulting advice from participants in the Indiana Clinical and Translational Sciences Institute. “Our relationship with CHV Capital and IU Health became an important element of creating value in the business and was a natural extension of our fund-of-fund relationship with BioCrossroads and INext,” said David Milne, managing director of SV Life Sciences.

Bell Techlogix plans local expansion, 204 jobs

The provider of information technology services said it will lease, equip and renovate part of a 100,000-square-foot facility on the city’s northwest side as part of the $1.4 million expansion. Bell has about 450 employees in the metropolitan area.

GOP govs: Not enough Medicaid ‘flexibility’

The Obama administration is giving states like Indiana a little flexibility in how to expand their Medicaid programs—but nothing like what state officials hoped for after the U.S. Supreme Court struck down part of the law in late June.

WellPoint dragged into Goldman Sachs suit

WellPoint Inc.’s $4.9 billion offer for Virginia-based Amerigroup Inc. apparently wasn’t the only—or even the most lucrative—offer for the Medicaid managed care company. But it was the deal surest to come to fruition before a key deadline for a big payout for Goldman Sachs & Co., according to a shareholder lawsuit filed Aug. 16 against the Amerigroup board of directors.

Lucases put imprint to Hilbert mansion

Forrest and Charlotte Lucas kept original touches including a painting with original owner Steve Hilbert holding a spear, but otherwise aimed to make the mansion more casual. (with 360-degree photos)

Remodeling rebounds as homeowners opt to fix what they have

More homeowners are taking the plunge on pricey home remodeling projects—ranging from kitchens, bathrooms and basements to outdoor living areas and whole-house makeovers—after a roughly five-year lull that began with the housing downturn.